Insider Buying: Toro (NASDAQ:TORO) CEO Acquires $12,054,986.24 in Stock

Toro Corp. (NASDAQ:TORO) CEO Petros Panagiotis Panagiotidis bought 1,982,728 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was bought at an average cost of $6.08 per share, for a total transaction of $12,054,986.24. Following the completion of the transaction, the chief executive officer directly owned 20,488,963 shares of the company’s stock, valued at approximately $124,572,895.04. The trade was a 10.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Petros Panagiotis Panagiotidis also recently made the following trade(s):

• On Friday, April 24th, Petros Panagiotis Panagiotidis bought 67,407 shares of Toro stock. The stock was bought at an average cost of $6.79 per share, for a total transaction of $457,693.53.
• On Thursday, April 23rd, Petros Panagiotis Panagiotidis bought 265,836 shares of Toro stock. The stock was bought at an average cost of $6.52 per share, for a total transaction of $1,733,250.72.

Toro Stock Performance

TORO opened at $6.90 on Monday. The company’s 50 day simple moving average is $3.93 and its 200 day simple moving average is $4.24. Toro Corp. has a 1 year low of $1.77 and a 1 year high of $7.70. The stock has a market capitalization of $148.14 million, a PE ratio of 86.26 and a beta of 1.21.

Toro Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 4th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 4th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Toro in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

More Toro News

Here are the key news stories impacting Toro this week:

• Positive Sentiment: CEO Petros Panagiotidis bought aggressively over April 22–24, purchasing ~2.32 million shares for roughly $14.25M at average prices between $6.08–$6.79; his stake now totals ~20.82M shares (worth ≈$141M). Heavy insider buying signals strong management confidence and likely supports the share lift. Toro Corp. CEO Makes Bold Multi-Million Dollar Bet on His Own Company SEC Form 4
• Positive Sentiment: Product recognition: Toro’s Super Recycler was ranked best overall gas mower, a positive consumer/product headline that can support brand strength and long‑term revenue prospects (limited immediate impact but helpful for sentiment). Toro Super Recycler ranked best overall gas mower
• Neutral Sentiment: Reported short interest data shows “0 shares” as of April 24 (appears to be a data anomaly). If accurate, low short interest reduces immediate downside pressure; if erroneous, it has no informational value. Treat this as neutral until confirmed.
• Negative Sentiment: Analyst view: a recent downgrade flagged TORO as overvalued after a strong momentum rally, which could pressure sentiment among retail/quant traders and limit further multiple expansion. This is a potential headwind if other analysts follow suit. Toro Corp.: Downgrading On Valuation After Epic Momentum Rally

Institutional Trading of Toro

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of Toro by 19.2% during the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after purchasing an additional 30,100 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Toro in the third quarter valued at about $79,000. Group One Trading LLC purchased a new stake in shares of Toro during the 3rd quarter valued at about $70,000. Finally, Founders Capital Management raised its holdings in shares of Toro by 28.6% during the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock valued at $48,000 after buying an additional 2,000 shares during the period. 1.74% of the stock is currently owned by institutional investors and hedge funds.

About Toro

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.